ONE Gas, Inc. $OGS Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its ONE Gas stake by 32.1% in the first quarter, leaving it with 38,616 shares valued at about $3.32 million. The filing showed institutional ownership of ONE Gas remains high at 88.71%.
• Wall Street is cautious overall on OGS, with analysts split between Buy and Hold ratings and a consensus rating of “Hold.” The average price target is $89.70, while recent notes included both target cuts and a downgrade from Weiss Ratings.
• ONE Gas reported mixed quarterly results, missing earnings and revenue estimates and seeing revenue fall 11.1% year over year. The company also pays a quarterly dividend of $0.68 per share, which annualizes to a 3.4% yield.

Hsbc Holdings PLC reduced its stake in ONE Gas, Inc. (NYSE:OGS - Free Report) by 32.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,616 shares of the utilities provider's stock after selling 18,242 shares during the period. Hsbc Holdings PLC owned 0.06% of ONE Gas worth $3,321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OGS. Alliancebernstein L.P. lifted its position in shares of ONE Gas by 1,393.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,597,487 shares of the utilities provider's stock worth $114,795,000 after buying an additional 1,490,492 shares during the last quarter. Norges Bank purchased a new position in shares of ONE Gas in the 4th quarter valued at $70,767,000. Nuveen LLC raised its stake in ONE Gas by 101.1% during the 4th quarter. Nuveen LLC now owns 776,495 shares of the utilities provider's stock worth $59,984,000 after acquiring an additional 390,344 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in ONE Gas by 37.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,398,440 shares of the utilities provider's stock worth $108,029,000 after acquiring an additional 380,668 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in ONE Gas by 187.1% in the second quarter. Squarepoint Ops LLC now owns 550,521 shares of the utilities provider's stock valued at $39,560,000 after acquiring an additional 358,779 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Truist Financial decreased their price objective on shares of ONE Gas from $95.00 to $89.00 and set a "buy" rating for the company in a research note on Wednesday. Wolfe Research began coverage on ONE Gas in a research report on Tuesday, May 26th. They set a "peer perform" rating on the stock. Mizuho reduced their target price on ONE Gas from $94.00 to $89.00 and set an "outperform" rating for the company in a report on Tuesday, June 9th. Morgan Stanley upped their target price on ONE Gas from $80.00 to $81.00 and gave the company an "equal weight" rating in a research report on Friday, July 17th. Finally, Weiss Ratings downgraded ONE Gas from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 10th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $89.70.

ONE Gas Trading Up 0.6%

Shares of ONE Gas stock opened at $80.44 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.48 and a current ratio of 0.57. The company has a market capitalization of $5.05 billion, a P/E ratio of 18.16, a PEG ratio of 2.63 and a beta of 0.66. ONE Gas, Inc. has a 1 year low of $71.71 and a 1 year high of $90.78. The company's fifty day moving average is $78.65 and its two-hundred day moving average is $82.42.

ONE Gas (NYSE:OGS - Get Free Report) last announced its earnings results on Monday, May 4th. The utilities provider reported $2.11 EPS for the quarter, missing analysts' consensus estimates of $2.13 by ($0.02). ONE Gas had a net margin of 11.77% and a return on equity of 8.45%. The business had revenue of $831.71 million during the quarter, compared to analysts' expectations of $969.36 million. During the same period in the previous year, the company posted $1.99 earnings per share. ONE Gas's quarterly revenue was down 11.1% on a year-over-year basis. ONE Gas has set its FY 2026 guidance at 4.830-4.950 EPS. Analysts forecast that ONE Gas, Inc. will post 4.88 earnings per share for the current year.

ONE Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Monday, May 18th. ONE Gas's dividend payout ratio (DPR) is presently 61.40%.

ONE Gas Profile

ONE Gas, Inc is a publicly traded natural gas utility company focused on the regulated distribution of natural gas to residential, commercial and industrial customers. Headquartered in Tulsa, Oklahoma, the company owns and operates an integrated system of transmission and distribution pipelines, storage facilities and compressor stations designed to deliver safe, reliable energy to end users. Its operations are governed by state utility commissions, which set rates and service standards in the markets the company serves.

The company's service territory spans three states: Oklahoma, Kansas and the Texas Panhandle.

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